March NYMEX Natural Gas Futures Contracts Closed at $2.636

Wednesday, February 20th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.682, roughly nine cents below Tuesday’s closing price of $2.662. It was a bearish market ahead of Thursday’s EIA Natural Gas Storage Report. The price trended lower throughout the day reaching an intraday low of $2.637 before closing slightly lower on Wednesday at $2.636.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 168 BCF withdrawal from storage for the week ended February 15th. This compares to a 124 BCF withdrawal at this time last year and a five-year average withdrawal amount of 159 BCF.

This morning in Globex, WTI Crude was down 12 cents; Natural Gas climbed four cents; Heating Oil was unchanged; and Gasoline dipped three-tenths of a penny.

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